Wellster completes series B with $60M to launch FemTech platform

• Wellster announces $20M funding extension in B series, just 6 months after raising $40M
• Funding provided by Claret Capital and Mangrove Capital Partners
• The German-founded startup confirms its position as Europe's best-funded integrated healthcare company
• The digital health market is expected to reach a value of $768B by 2030
• The funding will be used to launch a new FemTech vertically across Europe

MUNICH, Jan. 18, 2022 /PRNewswire/ -- Wellster Healthtech Group announces a further $20M in funding, just six months after raising $40M. Wellster is thus closing its series B.

The latest funding is provided by Claret Capital, an investor in the FemTech platform Bellabeat and Israel tech VC Mangrove Capital Partners whose other healthtech investments include K Health and Flo.

Europe's leading fully-integrated digital health solution, used by 1.5 million people

Wellster integrates telemedicine with digital services, to provide patients with direct access to treatment for everyday health issues—such as mental health, reproductive health, hair loss and skin conditions. To date, it has served over 1.5 million patients.

Ease of access to medical care and the prioritisation of patients' needs are at the centre of Wellster's platforms. The HealthTech company partners closely with Germany'sleading medical professionals to provide the highest standards.

Wellster to launch FemTech healthcare brand across Europe

Wellster intends to use the $60M funding to launch a women's healthcare brand to accompany their male-focused service, Spring. This new service will offer treatments for a range of intimate and lifestyle health concerns.

"It cements our ambition to continue our established leadership in the European market and expand our offering to more people in need of in-home healthcare services," said Dr. Manuel Nothelfer, co-founder of Wellster.

"Our multi-platform service allows us to tailor personalized treatments to people with different types of healthcare needs. This allows us to better address individual health problems, which ultimately leads to higher treatment success rates, as well as more trust among patients," adds co-founder Nico Hribernik.

About Wellster Healthtech Group

Wellster was founded in 2018 by Dr. Manuel Nothelfer and Nico Hribernik to provide more people with easy access to effective medical treatments. Wellster has developed its platforms to be the primary point of contact for anybody seeking help with their health issues. More than 1.5 million individuals have used the service since it went online in May 2019.

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SOURCE Wellster